Tata Applied sciences Ltd.’s public shareholder TPG Rise Local weather Sf Pte. offloaded a 3.91% stake within the firm for round Rs 1,064 crore by way of bulk deal on Tuesday.
TPG Rise Local weather, an entity linked to US non-public fairness agency TPG Inc., has offered 1.58 crore shares at Rs 673.26 apiece. The climate-focussed investor held 6.01% stake with whole variety of practically 2.43 crore shares in Tata Applied sciences as of March 31, 2025.
Irage Broking Providers LLP purchased 27.32 lakh shares or a 0.67% stake at Rs 674.12 apiece. This takes the deal worth to round Rs 184 crore.
Newsstate24 Revenue had reported on Monday that TPG Rise Local weather was prone to lower down its stake in Tata Applied sciences by way of bulk deal.
Earlier on April 25, Tata Applied sciences posted a 12% sequential rise in its web revenue for the March quarter, thereby beating analysts’ estimates. The corporate’s bottom-line rose to Rs 188.87 crore through the January-March interval, as in comparison with the consensus estimate of Rs 177.75 crore of the analysts polled by Bloomberg.
Shares of Tata Applied sciences on Tuesday closed 5.94% decrease at Rs 663.70 apiece on the NSE, in comparison with a 0.03% rise within the benchmark Nifty 50. The inventory has fallen by 37.79% within the final 12 months and 25.54% on a year-to-date foundation.
Three out of 14 analysts monitoring Tata Applied sciences have a ‘purchase’ score on the inventory and 11 counsel a ‘promote’, in line with Bloomberg information. The typical of 12-month analysts’ worth targets implies a possible draw back of 9%.
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